1. At a recent meeting, Carolina Dos Santos was looking for your help. She has been tasked to explain one of the following Management accounting concepts to her colleague Shalini Jayashankar at work. Based on your knowledge pick only one of the topics below:

1. Variance Analysis

2. Job Order Costing

Once you select the concept, Carolina has the following questions for you. Please answer ALL the parts below:

a) Explain the concept in a concise manner I.e. what is this concept about?

b) How is this concept used in the workplaces either one you worked in or one that you can think of? Please use a company example to support your answer.

c) Please list and explain 2 advantages and 2 disadvantages d) What do you think the future will hold for this concept? Will it still be around in 10 years time